29th June 2022

How to accelerate invoicing and payment in your recruitment agency with an invoice management system

Recruitment

What is an invoice management system and why do you need one?

In these ever increasing cost-conscious times your recruitment agency really needs to be on top of its game when it comes to the process of invoicing and payment. This puts efficiency and eliminating unnecessary overheads front and centre

Software technologies are really good at process efficiency, as well as reducing the drudge and errors that are associated with manual, paper-based processes. This is achieved through software automation and when applied to billing the clients of your recruitment agency it is known as invoice automation, and software that includes this capability is often known as an invoice management system.

An automated invoice management system is a key part of the digital transformation of a recruitment agency. Using appropriate recruitment invoicing software bakes in efficiency of the finance function of your business and prevents outdated approaches to back office and admin from pulling down on your bottom line.

In keeping with the well-established trend for cloud business applications, an online invoice management system eliminates the ownership costs associated with on-premise solutions, such as servers, internal IT team support and maintenance charges.

What is the invoice management process?

Typically, the method followed, or management process used to create, deliver and oversee the payment of invoices has these key steps:

What are the features of an invoice management system?

The general features of an invoice management system are likely to include:

What are the benefits of an invoice management system for recruitment agencies?

The main benefits of an invoice management system include:

Accelerate your recruitment agency back office with the invoice management system from ETZ

Many might question the need for an invoice management system. And when invoice volumes are low, it may be possible to muddle along without one. However, in the true entrepreneurial spirit of the recruitment industry, should you have ambitions for your business, a good online invoice management system is a cornerstone for growth.

ETZ’s leading timesheet, invoicing and payment platform is purpose-built to streamline the recruitment back office. To find out more about releasing efficiency in the back office, call us on 0800 311 2266 or book a demo.

 

 



Download your free guide

7 smart ideas to grow your recruitment agency.

Download Now
Download your free guide

Latest Posts

Recruitment

Why is ESG vital to hiring in a market where talent is in short supply?Why is ESG vital to hiring in a market where talent is in short supply?

8th August 2022

ESG: A key battleground for new hires and retention As the worst effects of the pandemic continue to recede, it...

Read more
Recruitment

Beyond timesheets: Using your data and getting better value using RecTech in your agencyBeyond timesheets: Using your data and getting better value using RecTech in your agency

1st August 2022

Digital transformation and RecTech It used to be the case that one of the messiest parts of running a recruitment...

Read more
Recruitment

Increased wage demands: Can you afford to play hard-ball or is it time to get smarter on package negotiationsIncreased wage demands: Can you afford to play hard-ball or is it time to get smarter on package negotiations

24th July 2022

The case for pay increase restraint is not made With inflation at a 40 year high in the UK (9.4%)...

Read more

See what ETZ could do for your agency with an online demo

Save hassle, time and money with our powerful software.

Book a Demo